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China Taiping has been identified as the building owner’s insurer. -
An “extraordinary” proportion of storms reached Category 5 status this year.
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Despite 2025 losses, carriers have not secured desired rate increases.
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The class of business has shouldered claims totalling over $4bn this year.
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Willis reports that the mining market has softened at a ‘considerable rate’ this year.
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The peril has been historically difficult to model compared to others.
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After a challenging period, the industry is now earning above its cost of capital.
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The sector also faces a potential $700mn loss from a fatal Indonesian mining catastrophe.
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The MGA began offering US commercial E&S property products in December.
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Panellists said the industry must be deliberate in setting a strategy for the right outcomes.
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The executive said the market will be revolutionised by digital technology.
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The shuttering of Munich Re Ventures reflected a focus on the reinsurer’s “core offering”.
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Cyber claims more than tripled year on year.
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Graham Wynes has been at Lockton for more than 14 years.
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The (re)insurer has a higher-than-average Jamaican market share.
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Specialised service providers like CDK can pose more frequency risk than global operators.
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The loss would be one of the largest ever for mining underwriters.
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Insurance penetration varies, but hotels have “near-total” coverage and strong limits.
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The storm devastated Jamaica and Cuba, but insurance penetration on the islands is low.
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The June 2024 ransomware attack produced claims across many firms.
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The Marsh-placed account renews its all-risks cover on 16 November.
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Widespread underinsurance and low exposures will limit losses.
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Citi and Berenberg believe the carrier is more resilient than in the past.
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While attritional losses were up for the quarter, those in the carrier’s core business declined.
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Many commercial risks will have London coverage, but insured values are relatively low.
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The company reported no cat losses but saw a jump in attritional losses.
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The start-up has struggled to build scale since its 2024 launch and has cut back its 2026 stamp.
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Hurricane warnings are in place for Guantanamo, Holguin and Las Tunas.
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Economic losses from the Cat 5 storm could run to 30%-250% of the country’s GDP.
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The global insurer will pick up a $650mn portfolio of US casualty business.
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AIG will fold the portfolio into its existing business, leaving the liabilities and legal entities with Everest.
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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
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The storm could bring flooding to Jamaica, Cuba and Haiti.
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A canvassing of the cyber market suggests the impact will be negligible.
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The range allows “for information that could emerge beyond what is known today”.
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The company and its main debt provider Ares agreed to relax its debt terms in April.
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AWS suffered a large-scale service disruption originating in northern Virginia.
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The traditionally lucrative class has faced a series of challenges in the latest geopolitical crisis.
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The Boeing cargo aircraft was wet leased by Emirates.
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The protection covers the US insurance book for the 2024 and prior accident years.
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Plus, the latest people moves and all the top news of the week.
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Nine-month insured losses still exceeded $100bn due to California wildfires.
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The reinsurer stressed it “did not shy” from cat business in 2023.
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Differentiating Lloyd’s claims performance could help drive business to the market.
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Though wildfire losses are up, total losses are the lowest since 2015.
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Class actions and third-party litigation funding will drive up losses.
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Trade credit insurers are expected to respond with tighter buyer limits and stricter wordings.
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Jennings will reunite with Cameron-Williams, who he worked with at BDO.
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The governor has yet to sign a pending bill to create a public cat model.
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Moretti has relocated to California from London.
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Scott was most recently head of claims at MGA Geo Underwriting.
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The insurer of last resort currently has $2.15bn of cat bond protection on risk.
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Jonathan Rinderknecht was arrested Tuesday on destruction of property charges.
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Declared events totalling just under A$2bn ($1.3bn) included one cyclone and two floods.
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Despite a rocky H1, 2025 insured losses from nat cat events may not surpass 2024 levels.
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The ratings agency cited a reduction in exposure to nat cat risk as a reason for the change.
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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
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According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.
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The tropical cyclone is expected to be named Imelda.
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Plus, the latest people moves and all the top news of the week.
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